...“Bricks-and-Mortar” vs. “Clicks-and-Mortar”: an Equilibrium Analysis Fernando Bernstein Jing-Sheng Song Xiaona Zheng The Fuqua School of Business The Fuqua School of Business Guanghua School of Management Duke University Duke University Peking University Durham, NC 27708 Durham, NC 27708 Beijing, China 100871 Forthcoming in European Journal of Operational Research The Internet has provided traditional retailers a new means with which to serve customers. Consequently, many “bricks-and-mortar” retailers have transformed to “clicks-and-mortar” by incorporating Internet sales. Examples of companies making such a transition include Best Buy, Wal-Mart, Barnes & Noble, etc. Despite the increasing prevalence of this practice, several fundamental questions remain: (1) Does it pay off to go online? (2) Which is the equilibrium industry structure? (3) What is the implication of this business model for consumers? We study these issues in an oligopoly setting and show that clicks-and-mortar arises as the equilibrium channel structure. However, we find that this equilibrium does not necessarily imply higher profits for the firms: in some cases, rather, it emerges as a strategic necessity. Consumers are generally better off with clicks-and-mortar retailers. If firms align with pure e-tailers to reach the online market, we show that a prisoner’s dilemma-type equilibrium may arise. Keywords: Supply chain management, Game theory, E-commerce, MNL model, Alliance ...
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...Shadow vs. Market Prices in Explaining Land Allocation: Subsistence Maize Cultivation in Rural Mexico Aslıhan Arslan No. 1469 | December 2008 Kiel Institute for the World Economy, Düsternbrooker Weg 120, 24105 Kiel, Germany Kiel Working Paper No. 1469 | December 2008 Title* Author Aslihan Arslan Abstract: Economic models of land allocation may lead to expectations for farmer response that “surprisingly" do not materialize, if market prices fail to reflect the value of farmers' product. “Shadow prices" rather than market prices explain resource allocation better for farmers who attach significant non-market values to their own crops. I extend the theoretical model in Arslan and Taylor (2008) to explain why the land allocation of such farmers may not respond to market signals even if transaction costs are not binding. I estimate the proportion of land subsistence maize farmers allocate to traditional versus modern maize varieties using nationally representative rural household data from Mexico – the center of diversity of maize. I conclude that shadow prices explain land allocation better than market prices and discuss the importance of non-market values in understanding both farmers' supply response and on-farm conservation of traditional crops with non-market values. Keywords: Land allocation, shadow prices, non-market values, traditional crops, on-farm conservation, Mexico JEL classification: O12, O13, Q12, Q39 Aslıhan Arslan Kiel Institute for the World Economy...
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...architecture have traditional utilized drawings such as plans, sections, and elevations as the primary medium for design communication as well as documentation (Guidera, 2010). Highway design engineers now use visualization as an opportunity to improve the entire planning, design, and construction process for all types of projects, big and small, and from start to finish (Taylor, & Moler, 2010). The following sections will discuss incorporating modeling activities, creative ways to use visualization tools, technologies for assessing student progress, and difficulties expected with the incorporation of modeling, visualization, and assessment. Incorporating Modeling Activities Modeling activities can be tailored to fit any classroom situation. There are several things to keep in mind when using or creating modeling activities for instruction. One thing to keep in mind is that the activity is should be interactive. The modeling should also provide opportunities for them to experiment with the model or modify. The second thing to keep in mind is that the purpose of using a model is to help bridge the gap between observations and the real world. The final thing to keep in mind is that modeling can introduce students to important terms as well as provide a setting to explore related methods. Since the content area I teach is business, management, and administration, I could work with my students on business modeling techniques. One area that we can model would be mapping...
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...and Financial Ratios Paper Manuelita Blow FIN370 Ms. Christine Gordon University of Phoenix March 13, 2015 Industry Averages and Financial Ratios Paper This paper will be discussing Target, a publicly-traded company. This paper will be Locating the SIC code for the company's industry, Finding Targets ratios for the company using the Dun & Bradstreet® Key Business Ratio link in the University Library. This paper will also be assuming that the inventory ratio is based on a traditional inventory system, but globalized markets and the supply chain make it critical to adopt lean principles to create a more efficient system. This paper will also be discussing what a change to a Just- In- Time inventory system would have if adopted by Target and Financial ratios will be calculated and the ratios will be compared with the appropriate industry. Assume According to "Just In Time Vs Traditional Inventory System." (2014), “Traditional inventory systems, seek to have enough inventory on hand so that production may continue even in the face of unexpected shortages or shipping delays. The ideal goal of JIT (Just in Time) manufacturing is to have precisely the right amount of components or materials on hand at any given moment, with as little idle inventory as possible. In a factory run perfectly according to the JIT model, every component delivered to the factory would go directly from the loading dock to the assembly line”. ("Just In Time Vs Traditional Inventory System.",...
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...2012 Waterfall vs. Agile Methodology Mike McCormick MPCS, Inc. Revised Edition 8/9/2012 Waterfall vs. Agile Methodology Contents Waterfall vs. Agile Model Comparison .........................................................................................3 Conceptual Difference.................................................................................................................3 Efficiency ....................................................................................................................................4 Suitability ....................................................................................................................................4 Waterfall Model Diagram .............................................................................................................5 Explanation of the Waterfall Model ..............................................................................................5 Phase I: Requirements................................................................................................................6 Phase II: Analysis .......................................................................................................................6 Phase III: Design.........................................................................................................................6 Phase IV: Coding ....................................................................................................
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...International Journal of Production Research Vol. 48, No. 17, 1 September 2010, 5137–5155 Supply chain performance measurement: a literature review Goknur Arzu Akyuz* and Turan Erman Erkan Department of Industrial Engineering, Atilim University, Kizilcasar Mahallesi, 06836 Incek Go¨lbasi, Ankara, Turkey (Received 19 February 2009; final version received 2 June 2009) This paper is intended to provide a critical literature review on supply chain performance measurement. The study aims at revealing the basic research methodologies/approaches followed, problem areas and requirements for the performance management of the new supply chain era. The review study covers articles coming from major journals related with the topic, including a taxonomy study and detailed investigation as to the methodologies, approaches and findings of these works. The methodology followed during the conduct of this research includes starting with a broad base of articles lying at the intersection of supply chain, information technology (IT), performance measurement and business process management topics and then screening the list to have a focus on supply chain performance measurement. Findings reveal that performance measurement in the new supply era is still an open area of research. Further need of research is identified regarding framework development, empirical cross-industry research and adoption of performance measurement systems for the requirements of the new era, to include...
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...A Custom Research Project Statement of Work for NetSuite October 24, 2012 Statement of Confidentiality The enclosed information is submitted to NetSuite for the purpose of evaluating the SMB Group, its products and its services. The information included in or with this document, in its entirety, is considered both confidential and proprietary and may not be copied or disclosed to any third party, without the prior written consent of the SMB Group. The content of this proposal supersedes that of any previous proposal. This proposal is valid for thirty (30) days from the proposal date above. SMB Group, Inc. ( www.smb-gr.com ) | 17 Lancaster Rd. Northborough, MA 01532 | (508)410-3562 (P) October 24, 2012 Vishrut Parikh Director, Product Marketing NetSuite 2955 Campus Drive, Suite 100 San Mateo, CA 94403-2511 Dear Vishrut, Thank you for the opportunity to submit a proposal for a whitepaper about the TCO of Cloud/SaaS Delivered Integrated Business Application Suite vs. On-premise Solutions for SMB and Mid-Market Enterprises. This paper will highlight the total cost of ownership of NetSuite’s integrated cloud business application suite vs. comparable on-premise based ERP applications. We realize that you have many choices when selecting a research and consulting partner. The SMB Group is committed to providing real value and unsurpassed satisfaction in both our working relationship and in the services we provide to you. We hope this proposal meets your expectations...
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...REVOLUTION ANALYTICS WHITE PAPER Advanced ‘Big Data’ Analytics with R and Hadoop 'Big Data' Analytics as a Competitive Advantage Big Analytics delivers competitive advantage in two ways compared to the traditional analytical model. First, Big Analytics describes the efficient use of a simple model applied to volumes of data that would be too large for the traditional analytical environment. Research suggests that a simple algorithm with a large volume of data is more accurate than a sophisticated algorithm with little data. The algorithm is not the competitive advantage; the ability to apply it to huge amounts of data—without compromising performance—generates the competitive edge. Second, Big Analytics refers to the sophistication of the model itself. Increasingly, analysis algorithms are provided directly by database management system (DBMS) vendors. To pull away from the pack, companies must go well beyond what is provided and innovate by using newer, more sophisticated statistical analysis. Revolution Analytics addresses both of these opportunities in Big Analytics while supporting the following objectives for working with Big Data Analytics: 1. 2. 3. 4. Avoid sampling / aggregation; Reduce data movement and replication; Bring the analytics as close as possible to the data and; Optimize computation speed. First, Revolution Analytics delivers optimized statistical algorithms for the three primary data management paradigms being employed to address...
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...[pic] Ecole Supérieure Libre des Sciences Commerciales Appliquées Review of Literature Behavioral Finance Presented to Dr. Mohamed EL-Hennawy Group Assignment Prepared By Albert Naguib Noha Samir Wael Shams EL-Din Moshira Gamil Marie Zarif January 2012 | TABLE OF CONTENTS | | | |List of Table………………………………………………………………………….. | |List of Figure ………………………………………………………………………… | |List of Abbreviations/Acronyms ……………………………………………………. | |Introduction……………………………………………………………………….. | |2. Appearance of Behavioral Finance…………………………………………………… | |2.1. Important Contributors…………………………………………………. ………. | |3. Behavioral Biases…………………………………………………………………… ...
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...Will The Advent of Online Intermediaries Diminish the Need for Travel Agents Totally in the Near Future? Erin Toh Temasek Polytechnic Abstract This paper will focus on the comparison between Retail Travel Agencies (TA) and Online Travel Agents/Intermediaries (OTA); and how the rise of technology has affected the business model and operations of traditional agents. Traditional TA in this paper refers loosely to those with a brick and mortar store, selling travel related services with human touch; while OTA are also selling travel related services, but without a brick and mortar store and solely relies on internet as a selling medium (Bottomley, 1997). The paper will start with an overview of the booming travel industry, followed by the main challenges facing the travel industry, namely labour crunch and human touch, discussed in the context of TA and OTA. An analysis of current consumers behaviour factors as identified by Zhou, Dai, and Zhang (2007), affecting purchase decisions will also be discussed. In addition, traditional TA roles have evolved throughout the years to offer differentiated services in order to keep within the competition. The distribution of travel products has undergone changes and in order to remain competitive, TA must take a page out of OTAs, adapt to technology and online platforms in order not to be rendered obsolete. Keywords: Travel Agents, Technology, Internet, Online Intermediaries, Online agents Will The Advent of Online Intermediaries...
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...Presents MINI-RESEARCH STRATEGIES & MODELS Mini-Research Activities Increase Student Achievement Support the Mission of the 21st Century Librarian INCLUDES: LM_Net commentary on preventing of plagiarism vs. detection and punishment strategies The challenge to librarians of the Pew and N2H2 Study of student Internet use Doug Johnson strategies for Low Probability of Plagiarism (LPP) Mini-Research models and strategies curb plagiarism and develop writing and critical thinking Scientific-based research (SBR) supports the use of mini-research activities to increase student achievement © ProQuest LLC – May be reproduced for Educational Purposes September 2007 TABLE OF CONTENTS Topic Section Selected LM_Net Librarian Comments about Positive Strategies for Preventing Plagiarism Strategies for Creating Low Probability of Plagiarism Research Activities—Doug Johnson Bloom‘s Taxonomy of Higher-Order Thinking Skills (HOTS) and Mini-Research ProQuest Mini-Research Strategies Correlated to HOTS -- (Bloom‘s Taxonomy) Mini-Research Formal Model—Integrate Technology and Prevent Plagiarism Mini-Research Draft Summary Model Integrates Technology Methods and Skills Mini-Research Informal Model—Integrate Technology and Prevent Plagiarism Flexible Rubrics Model for Teacher Evaluation of Mini-Research Reports APPENDIX ProQuest Mini-Research Process vs. Traditional Research Renewed Emphasis on the Importance of Writing and Mini-Research Activities Scientific-based Research (SBR), Mini-Research...
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...No. 2010-09 Series Editor: Dr. Alexandr Akimov Copyright © 2010 by author(s). No part of this paper may be reproduced in any form, or stored in a retrieval system, without prior permission of the author(s). Hedging With Futures Contract: Estimation and Performance Evaluation of Optimal Hedge Ratios in the European Union Emissions Trading Scheme John Hua Fan, Eduardo Roca and Alexandr Akimov Department of Accounting, Finance and Economics, Griffith University, Queensland, Australia 4111 Abstract Following the introduction of the European Union Emissions Trading Scheme, CO2 emissions have become a tradable commodity. As a regulated party, emitters are forced to take into account the additional carbon emissions costs in their production costs structure. Given the high volatility of carbon price, the importance of price risk management becomes unquestioned. This study is the first attempt to calculate hedge ratios and to investigate their hedging effectiveness in the EU-ETS carbon market by applying conventional and recently developed models of estimation. These hedge ratios are then compared with those derived for other markets. In spite of the uniqueness and novelty of the carbon market, the results of the study are consistent with those found in other markets – that the hedge ratio is in the range of 0.5 to 1.0 and still best estimated by simple regression models. Key words: hedging, conditional hedge ratio; carbon market; CO2; emissions trading; risk management ...
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...as for accepting changing requirements. In this aspect, traditional plan-driven developments fail to meet up these requirements. Though traditional software development methodologies, such as life cycle-based structured and object oriented approaches, continue to dominate the systems development few decades and much research has done in traditional methodologies, Agile software development brings its own set of novel challenges that must be addressed to satisfy the customer through early and continuous delivery of the valuable software. It‘s a set of software development methods based on iterative and incremental development process, where requirements and development evolve through collaboration between self-organizing, cross-functional teams that allows rapid delivery of high quality software to meet customer needs and also accommodate changes in the requirements. In this paper, we significantly indentify and describe the major factors, that Agile development approach improves software development process to meet the rapid changing business environments. We also provide a brief comparison of agile development methodologies with traditional systems development methodologies, and discuss current state of adopting agile methodologies. We speculate that from the need to satisfy the customer through early and continuous delivery of the valuable software, Agile software development is emerged as an alternative to traditional plan-based software development methods. The purpose of...
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...Financial Intermediation Term Paper 16th October 2015 Authors: Aatman Ajmera- 40743, Abhilash Badami-40744, Lampros Baltas-40757 New Business Models: Peer-to-Peer (P2P) Lending Abstract: This paper evaluates the efficacy of the peer-to-peer lending model. While we primarily discuss the consumer loan market, the structure, principles and associated risks are fairly similar for other end markets as well. Contrary to popular opinion, empirical evidence from the limited available market data proves that P2P platforms do not have a lower cost as a percentage of loan receivables at this point compared to traditional banks. As these higher costs are primarily due to marketing activities, going forward, with scalability, they are poised to generate significant cost savings. Through our research, we conclude that P2P lending has a strong value proposition and the potential to disrupt the existing lending market, however, data quality, regulation and investor confidence will play a monumental role in determining the speed and magnitude of its success. What is peer-to-peer lending? Technological evolution, along with changing consumer behaviour, has led to a new era of innovation in financial services and subsequently more transparent and easy-to-use platforms. One of the new business models that has evolved, is peer-to-peer (P2P) lending. In essence, P2P lending is a form of debt financing which allows borrowers and lenders to bypass traditional banks. P2P platforms are...
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...POWER OF SOCIAL BUSINESS IN POVERTY ALLEVIATION F-532: Business Research Methodology and Econometrics Submitted to, Dr. M. Jahangir Alam Chowdhury Professor, Department of Finance University of Dhaka Submitted by, Md. Rased Mosarraf MBA ID No.: 16-469 BBA ID No.: 16-062 MBA, 16th Batch Department of Finance University of Dhaka “Poverty does not belong in civilized human society. Its proper place is in a museum. That's where it will be.” –Dr. Muhammad Yunus Date of Submission: July 19, 2016 i Letter of Transmittal July 19, 2016 Dr. M. Jahangir Alam Chowdhury Professor, Department of Finance University of Dhaka Subject: Submission of Research Paper. Dear Sir, I am very glad to submit you the paper on “Power of Social Business in Poverty Alleviation”. I would like to say that this paper is helpful for me to know about the social business concept. I am very thankful to you for giving us such a fantastic opportunity to make a paper on this topic. I have tried my best to make this report meaningful by providing necessary information. Yours sincerely, ………………………… (Md. Rased Mosarraf) MBA Roll: 16-469 BBA Roll: 16-062 Department of Finance University of Dhaka ii Table of Contents Introduction ................................................................................................................................................. 1 Literature Review .............................................................
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